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Paragon 28

Paragon 28 Inc is a medical devices company that develops, distributes, and sells medical devices in the foot and ankle segment of the orthopedic implant marketplace. Its products include plates and plating systems, screws, staples, and nails aimed to address all major foot and ankle procedures including ankle, Charcot, fracture fixation, hallux valgus, hammertoe, and flat foot. The company's suite of surgical solutions comprises nearly 80 product systems to help fit the specific needs of each patient and procedure. Geographically the company generates the majority of revenue from the United States.

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Elon Musk shared a throwback on X, recalling a 2009 lunch where legendary investor Charlie Munger told a table full of people that <a href="https://www.benzinga.com/startups/25/02/43531005/elon-musk-recalls-a-lunch-where-charlie-munger-listed-all-the-reasons-tesla-would-fail-made-me-quite-sad-but-i-told-him-i-agreed">Tesla was destined to fail</a>. Musk, always blunt about Tesla's early struggles, admitted at the time that the odds were stacked against the company.&nbsp;
But despite Munger's doubts, Musk pushed forward. Years later, even Munger had to admit that Tesla's success was nothing short of a "minor miracle."
Yet, for all his skepticism about Tesla, Munger wasn't against all electric vehicles. In fact, he was one of the biggest advocates for BYD, a Chinese EV and battery manufacturer that Berkshire Hathaway backed. Munger raved about BYD's achievements, calling it his "best investment" shortly before his death in 2023.
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<h2 class="wp-block-heading">The Genius Who Overestimates Himself</h2>
Munger's views on Musk were always a mix of admiration and caution. At the 2014 Daily Journal shareholders meeting, he acknowledged Musk's intelligence but also pointed out his tendency to push the limits of reality.
"He's a genius, and I don't use that word lightly," Munger said. "He's also one of the boldest men who ever came down the pike. So put me down as saying I've always been afraid of the guy whose IQ is 190 and he thinks it's 250." He elaborated,&nbsp; "I like to think there's a little of that risk with Elon. He is a certified genius."
By 2020, Munger hadn't changed his stance much. At the Daily Journal shareholders meeting that year, he made it clear that while he wouldn't bet against Musk, he wasn't buying Tesla stock either. "My thoughts are two," Munger said. "I would never buy [Tesla], and I would never sell it short."
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
Then came his now-famous warning: "Never underestimate the man who overestimates himself."
Munger acknowledged that Musk's confidence bordered on delusion—but sometimes, those delusional thinkers change the world.
<h2 class="wp-block-heading">Munger Loved BYD but Snubbed Tesla</h2>
If Munger was so skeptical of Tesla, why was he all-in on BYD? In short, he saw BYD as a company with strong fundamentals, disciplined leadership, and a clear business strategy.&nbsp;
At the <a href="https://buffett.cnbc.com/video/2009/05/02/afternoon-session---2009-berkshire-hathaway-annual-meeting.html">2009 Berkshire Hathaway annual meeting</a>—the same year as his notorious lunch with Musk—Munger marveled at BYD's rapid ascent, labeling it "unbelievable."
"They went into the automobile business with zero experience, very little capital, and they still created the best-selling model in China. This is not normal. This is a damn miracle," he said.
Munger saw BYD as a disciplined company that methodically built itself up, while Tesla, in his eyes, was fueled by Musk's relentless overconfidence.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
<h2 class="wp-block-heading">The Legacy of Munger's Tesla Criticism</h2>
Tesla has had its ups and downs since that 2009 lunch. It defied the odds to become a global powerhouse, but in 2025, it's facing a sharp decline. Tesla's stock has dropped nearly 50% since mid-December, with analysts pointing to a mix of factors, including Musk's divisive political stances, declining global sales, and increased competition in the EV market. Some investors, like Ross Gerber, believe the company could face further struggles, while others see long-term opportunities in Tesla's robotaxi ambitions and AI-driven projects.
Munger remained consistent in his skepticism of Tesla throughout his life. His stance wasn't necessarily about Tesla's technology—it was <a href="https://www.benzinga.com/news/25/01/42976301/charlie-munger-said-his-family-only-owns-3-stocks-damn-right-theyre-rich-because-diversification-is-for-know-nothing-investors">about his investment philosophy</a>, which prioritized stable, disciplined companies over high-risk ventures led by larger-than-life personalities.
While <a href="https://www.benzinga.com/25/03/44266805/trump-turns-white-house-into-tesla-showroom-says-elon-musk-was-treated-very-unfairly-heres-the-car-he-picked-for-himself">Tesla's future</a> remains uncertain, Munger's perspective on Musk—a genius who overestimates himself—continues to be a defining lens through which many view the billionaire today.
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Personal Finance

Charlie Munger Called Elon Musk a 'Certified Genius' Who Exaggerates His IQ—But Warned: 'Never Underestimate the Man Who Overestimates Himself'

Canadian musician Grimes has openly expressed her disapproval of Elon Musk <a href="https://www.benzinga.com/news/24/09/40866970/new-book-reveals-elon-musks-twitter-buy-fumble-and-mix-up-over-grimes-baby-name">for publicly displaying their four-year-old son</a>.
What Happened: Grimes voiced her discontent with Musk&#8217;s actions. In a post on X, she criticized Musk for his public display involving their child.
&#8220;I unfortunately do not control the internet and cannot wipe this from the internet. I have tried begging the public and my kids dad to keep them offline, and I&#8217;ve tried legal recourse. I follow you here I&#8217;ve seen young ppl destroyed by the internet too. The state of my children&#8217;s lives being public is of grave concern to me and I think about how to solve this every day. It&#8217;s insane to me that there&#8217;s no way to deal with this,&#8221; she wrote in the post. 
Grimes was responding to a post on X, when a user questioned what she was doing to safeguard her children from misinformation.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I unfortunately do not control the internet and cannot wipe this from the internet. I have tried begging the public and my kids dad to keep them offline, and I&#39;ve tried legal recourse. I follow you here I&#39;ve seen young ppl destroyed by the internet too. The state of my…
&mdash; 
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Grimes Slams Elon Musk for Putting Their Children in Spotlight: 'I've Tried Begging Public And My Kids' Dad To Keep Them Offline'

U.S. forces, in collaboration with Iraqi intelligence and security services, successfully killed a high-profile leader of ISIS in a precision <a target="_blank" href="https://www.benzinga.com/news/global/25/02/43424035/trump-unleashes-airstrikes-on-isis-in-somalia-we-will-find-you-and-we-will-kill-you" rel="noreferrer noopener">airstrike on Thursday in western Iraq.</a>
Abdallah Makki Muslih al-Rifai, known by his alias &#8220;Abu Khadijah,&#8221; was one of the most dangerous terrorists in Iraq and globally, CNN <a target="_blank" href="https://edition.cnn.com/2025/03/14/middleeast/iraq-syria-isis-killed-intl-hnk/index.html" rel="noreferrer noopener">reports</a>.
&#8220;Today the fugitive leader of ISIS in Iraq was killed,&#8221; President Donald Trump <a target="_blank" href="https://truthsocial.com/@realDonaldTrump/posts/114164024901387974" rel="noreferrer noopener">posted </a>on his social media handle Truth Social. &#8220;He was relentlessly hunted down by our intrepid warfighters. His miserable life was terminated, along with another member of ISIS, in coordination with the Iraqi Government and the Kurdish Regional Government. PEACE THROUGH STRENGTH!,&#8221; Trump adds.
As the &#8220;deputy caliph&#8221; of ISIS, he was a key figure in the organization, overseeing global operations, logistics, and financial matters, CNN adds.
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The strike took place in Al Anbar province, where both Abu Khadijah and another ISIS operative were found dead at the scene, wearing unexploded suicide vests and carrying multiple weapons. U.S. Central Command, or CENTCOM, confirmed that Abu Khadijah&#8217;s identity was confirmed through DNA collected from a previous raid where he narrowly escaped capture.
Iraqi Prime Minister Mohammed Shia al-Sudani hailed the operation, calling it a significant blow to ISIS, which continues to operate in multiple regions despite losing control over large swaths of territory in Iraq and Syria years ago.
&#8220;The Iraqis continue their remarkable victories against the forces of darkness and terrorism,&#8221; he <a target="_blank" href="https://x.com/mohamedshia/status/1900539298392273087" rel="noreferrer noopener">posted </a>on X.
The U.S. and Iraqi forces&#8217; joint effort marks a major victory in the fight against terrorism.
Despite a decline in ISIS territorial control, the group remains active and poses a continuing threat, as evidenced by a deadly attack in Moscow in March 2024.
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Top ISIS Leader Killed In US-Iraqi Strike — 'Relentlessly Hunted Down by Our Intrepid Warfighters,' Says Trump

Recent moves by President Donald Trump have raised questions about the future stability of the U.S. economy and <a href="https://www.benzinga.com/news/25/02/43758634/mary-trump-warns-dni-gabbard-could-lead-to-catastrophic-outcome-a-known-russian-asset-defender-of-murderous-dictator-assad">programs</a>, and sparked new commentary from a familiar critic.
What Happened: These concerns were highlighted in an analysis by Mary Trump, the President&#8217;s niece and vocal critic.
In a Cubstack <a href="https://www.marytrump.org/p/watch-what-he-does">post</a>, Mary Trump scrutinized the President&#8217;s recent policy decisions. She expressed apprehension about the potential impacts on the U.S. economy and social security programs.
She drew attention to Trump&#8217;s recent interviews, where he defended his budget plan and dismissed concerns over potential economic slowdown. She criticized his lack of detailed plans and his dismissal of the potential impacts on social security, healthcare, and retirement savings.
She also noted that Trump&#8217;s policies, including his tariffs and trade disruptions, could lead to rising consumer prices and economic slowdown. 
She cited warnings from companies like&nbsp;Target Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>),&nbsp;Walmart Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and&nbsp;Chipotle Mexican Grill, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) that they would&nbsp;pass these costs on to&nbsp;consumers.
Moreover, she highlighted the potential impacts of Trump&#8217;s policies on global alliances and U.S. credibility. She noted that&nbsp;China is positioning itself to&nbsp;replace the U.S. as a stable global leader in response to Trump&#8217;s tariffs and antagonism towards key economic partners.
Also Read: <a href="https://www.benzinga.com/news/25/02/43900927/mary-trump-slams-uncle-trump-and-his-corrupt-fascist-regime-are-aligned-with-the-agenda-of-vladimir-putin-and-moscow">Mary Trump Slams Uncle: &#8216;Trump and His Corrupt Fascist Regime Are Aligned With the Agenda of Vladimir Putin and Moscow&#8217;</a>
&#8220;Even if you don&#8217;t care about helping other people, there is still a benefit to the United States in the form of soft power. If you help other countries, particularly developing nations, they become loyal to you. They become, by virtue of our aid, spokespeople for America. That is soft power. We don&#8217;t have that anymore. China is going after that as well. The Trump regime is weakening us on every single front,&#8221; she wrote in the post. 
Lastly, she criticized Trump&#8217;s decision to halt&nbsp;military aid to and intelligence&nbsp;sharing with Ukraine, which she argued has emboldened Russia and weakened Ukraine&#8217;s position on the battlefield.
Why It Matters: The concerns raised by Mary Trump echo the sentiments of many economic analysts and policy experts. The potential impacts of Trump&#8217;s policies on the U.S. economy, social security programs, and global alliances are significant.
Rising consumer prices could affect the purchasing power of American consumers, while disruptions in global alliances could impact U.S. standing in the global economy.
Furthermore, the halt in military aid and intelligence sharing with Ukraine could have far-reaching implications for global security. As such, these concerns warrant close attention and scrutiny.
Read Next
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Image: Shutterstock

Mary Trump Slams Uncle: 'The Trump Regime Is Weakening Us on Every Single Front'

President Donald Trump has filed an emergency appeal with the U.S. Supreme Court, requesting it to limit the authority of lower-court judges who issue nationwide <a target="_blank" href="https://www.benzinga.com/news/25/03/44203241/powell-stresses-patience-as-fed-navigates-market-uncertainty-trade-turmoil" rel="noreferrer noopener">injunctions blocking federal policies.</a>
The appeal, centered on his controversial executive order attempting to end birthright citizenship, seeks to curtail what the administration views as an overreach of district courts&#8217; powers, POLITICO <a target="_blank" href="https://www.politico.com/news/2025/03/13/trump-supreme-court-nationwide-injunctions-00229431" rel="noreferrer noopener">reports</a>.
According to the American Immigration Council, birthright citizenship is the principle that grants <a target="_blank" href="https://www.americanimmigrationcouncil.org/topics/birthright-citizenship" rel="noreferrer noopener">automatic citizenship</a> to individuals upon birth, either through ancestry or place of birth.
In the U.S., it is based on &#8216;jus soli&#8216;, meaning citizenship is granted to anyone born on U.S. soil, regardless of their parents&#8217; immigration status, with some exceptions. The U.S. also has &#8216;jus sanguinis&#8216;, granting citizenship to children born abroad to U.S. citizens. While birthright citizenship is common in the Americas, it is less prevalent in other parts of the world.
Also Read<a target="_blank" href="https://www.benzinga.com/news/25/03/44329551/youre-sure-nobody-in-the-white-house-shorted-the-dow-foxs-peter-doocy-challenges-trump-three-times-in-a-day" rel="noreferrer noopener">: &#8216;You&#8217;re Sure Nobody In The White House Shorted The Dow?&#8217;—Fox&#8217;s Peter Doocy Challenges Trump Three Times In A Day</a>
Trump&#8217;s acting solicitor general, Sarah Harris, argues that federal district judges should only issue injunctions within their own jurisdiction, not nationwide, contending that this would allow the Executive Branch to function properly without interference from multiple courts, POLITICO adds.
The appeal focuses on injunctions issued by judges in Maryland, Massachusetts, and Washington state, blocking Trump&#8217;s executive order that seeks to deny U.S. citizenship to children born on U.S. soil to undocumented immigrants.
Although Trump&#8217;s administration is not yet challenging the constitutionality of the order, it argues that nationwide injunctions are becoming a growing problem, citing 15 injunctions against Trump policies in February alone, the report reads.
Beyond the birthright citizenship case, the Trump administration&#8217;s filing also takes aim at state-led lawsuits, particularly those filed by Democratic attorneys general, which have challenged various federal policies.
The administration seeks to limit states&#8217; ability to bring such politically charged lawsuits.
The Supreme Court&#8217;s decision could have far-reaching implications, potentially reshaping the scope of judicial power and influencing future legal battles over federal policies.
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Could Trump's Birthright Citizenship Battle Reshape Judicial Power?

<a href="https://www.benzinga.com/markets/25/03/44242181/elon-musk-admits-juggling-between-tesla-doge-is-difficult-says-running-businesses-with-great-difficulty-as-tsla-stock-plunges-50-in-3-months">Elon Musk</a> has no patience for nonsense. If you're not saying something valuable, he'll simply leave—mid-conversation, no apologies. That's according to "Shark Tank" investor Kevin O'Leary, who recently shared his blunt take on Musk's relentless focus.
In a <a href="https://x.com/kevinolearytv/status/1898025859279417623">post on X last week</a>, O'Leary compared Musk to another legendary figure: Steve Jobs. Both, he said, operate on a different wavelength—one where distractions are cut ruthlessly, and efficiency is king.
O'Leary broke it down like this: "Signal" is the time spent advancing your goals. "Noise" is everything else—distractions, useless meetings, pointless small talk. Waste too much time on the latter, and you lose. Simple as that.
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According to O'Leary, both tech visionaries Jobs and Musk mastered this balance.&nbsp;
It's not personal. It's about efficiency.
<h2 class="wp-block-heading">‘We Don't Do Market Research at Apple'</h2>
O'Leary, <a href="https://www.benzinga.com/startups/24/04/38319759/kevin-oleary-says-working-for-steve-jobs-was-brutal-he-was-not-a-nice-guy-but-oleary-still-admires-h">who worked with Jobs at Apple</a>, shared a story to illustrate this mindset. Every quarter, he and other executives would meet at Apple's headquarters. Jobs, he said, was brutally focused.
"Steve was not a nice guy," O'Leary recalled. During one meeting, a product manager working on "Oregon Trail" suggested spending $2 million on market research to determine which product features would be best. Jobs shut her down instantly.
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"We don't do market research at Apple," Jobs told her. "Nobody knows what they want until I tell them what they want. Then they buy it because I said so."
The woman left the meeting in tears. O'Leary was stunned.
"I told him, ‘Steve, you're an a&#x2A;&#x2A;hole.'"
Jobs didn't care. Instead, he fired back: "Are you making a boatload of money? Are we growing share faster than anybody else? Shut up and go to work."
O'Leary called Jobs "85% signal, 15% noise"—meaning he still let some distractions slip through. But the results? Unmatched.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
<h2 class="wp-block-heading">Musk Is ‘100% Signal'—And Doesn't Care What You Think</h2>
Then there's Musk. O'Leary says he's never met <a href="https://www.benzinga.com/startups/25/01/43335267/some-employees-survive-but-a-whole-lot-dont-says-elon-musks-biographer-about-his-demon-mode-in-which-hes-coldly-brutal-to-people">anyone more laser-focused</a>.
"One other guy that is 100% signal, and I've never met anybody like him, is Elon Musk. No noise. 100% signal," he said.
Musk doesn't just cut out distractions—he eliminates them entirely. "Walks away from you if you're boring him in a conversation," O'Leary said. "Doesn't give a sh&#x2A;t."
That kind of mindset might come off as arrogant, but O'Leary sees it differently: It's what makes Musk and Jobs exceptional.
Both built <a href="https://www.benzinga.com/personal-finance/25/03/44267293/kevin-o-leary-says-hed-have-turned-down-investing-in-tesla-if-elon-musk-pitched-the-company-on-shark-tank-i-would-say-youre-crazy">world-changing companies</a> by ignoring distractions, cutting through the noise, and making decisions with absolute confidence. And in Musk's case, if you can't keep up? He's already moved on.
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Kevin O' Leary Says Elon Musk Will Walk Away Mid Conversation If He Gets Bored, He 'Doesn't Give A Sh*t'—'I've Never Met Anybody Like Him'

Radio host Charlamagne tha God took aim at the Democratic leadership on Friday, calling for Senate Minority Leader Chuck Schumer and <a href="https://www.benzinga.com/25/03/44345850/benzinga-bulls-and-bears-docusign-magnificent-7-palantir-and-tariffs-keep-roiling-markets" target="_blank" rel="noreferrer noopener">House Minority Leader</a><a href="https://www.benzinga.com/25/03/44345850/benzinga-bulls-and-bears-docusign-magnificent-7-palantir-and-tariffs-keep-roiling-markets" target="_blank" rel="noreferrer noopener"> Hakeem Jeffries</a><a href="https://www.benzinga.com/25/03/44345850/benzinga-bulls-and-bears-docusign-magnificent-7-palantir-and-tariffs-keep-roiling-markets" target="_blank" rel="noreferrer noopener"> to step down</a>.
Speaking on his radio <a href="https://www.youtube.com/watch?v=ZPOLcswIUTg" target="_blank" rel="noreferrer noopener">show</a> The Breakfast Club, Charlamagne criticized the Democratic Party for what he described as &#8220;inaction&#8221; and ineffective messaging.
His comments came amid internal turmoil within the party, which intensified following Schumer&#8217;s controversial decision to vote in favor of a GOP-backed spending bill, <a href="https://thehill.com/homenews/media/5196697-charlamagne-tha-god-schumer-jeffries-democrats/" target="_blank" rel="noreferrer noopener">reports</a> The Hill.
&#8220;The party of inaction, the Democrats, have failed to protect the interest of the American people,&#8221; he said, adding, &#8220;Dems don&#8217;t just have a messaging problem. They got a leadership problem,&#8221; he continued. &#8220;The Chuck Schumers of the world, the Hakeem Jeffries, they should all step down.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/personal-finance/25/03/44328962/1-9-billion-federal-scam-2-trillion-in-federal-waste-the-latest-findings-from-doge-as-elon-musk-says-money-is-poorly-spent" rel="noreferrer noopener">$1.9 Billion Federal Scam, $2 Trillion in Federal Waste: The Latest Findings from DOGE as Elon Musk Says &#8220;Money Is Poorly Spent&#8221;</a>
The bill passed in the Senate on Friday evening with a 54-46 vote, including support from Sen. Jeanne Shaheen (D-N.H.) and Democratic-caucusing Sen. Angus King (I-Maine).
This sparked outrage among House Democrats, who had already voted against the bill earlier in the week, with many, including Rep. Alexandria Ocasio-Cortez (D-N.Y.), expressing a sense of betrayal, The Hill adds.
Schumer defended his decision, calling the funding stopgap a &#8220;bad bill,&#8221; but argued that passing it was preferable to a government shutdown under former President Donald Trump&#8216;s influence.
Despite his rationale, Charlamagne questioned Schumer&#8217;s logic, suggesting that Democrats should have presented an alternative funding measure instead of backing a bill they deemed inadequate, The Hill reports.
In response to the leadership crisis, Charlamagne called for primary challenges against any Democratic lawmaker not aligning with the party&#8217;s values and fighting for the American people.
Schumer, on the other hand, insisted that his leadership remains in sync with the party, despite growing discontent among progressives.
Charlamagne&#8217;s remarks reflect broader frustrations within the party as Democrats continue to regroup after their disappointing losses in the 2022 elections.
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Image: Shutterstock

Movers

Charlamagne Tha God Slams Schumer and Jeffries: 'They Should All Step Down'

A lawsuit has been lodged against&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) by its employees, who claim that the company&#8217;s prescription drug plan, overseen by&nbsp;CVS Health Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), consented&nbsp;to pay exorbitant prices for&nbsp;medications.
What Happened: According to a report, the lawsuit alleges that JPMorgan mishandled health benefits. One example cited in the case shows the plan paying over&nbsp;$6,000 for a multiple sclerosis&nbsp;drug that could be purchased for approximately $30 at retail pharmacies. 
The plaintiffs, which&nbsp;include one current and two&nbsp;former employees, contend that this &#8220;systematic mismanagement&#8221; resulted in &#8220;grossly inflated&#8221; medication costs for those enrolled in the plan.
According to the report <a href="https://www.bloomberg.com/news/articles/2025-03-13/jpmorgan-employee-lawsuit-says-bank-overpaid-for-prescription-drugs?sref=TBDibEcD">by</a> Bloomberg, this lawsuit is part of an emerging pattern of similar cases against major employers such as Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) and Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).
These cases are examining the role of employers in the escalating healthcare costs in the US and&nbsp;the profits of pharmacy benefit&nbsp;managers like CVS.
Also Read: <a href="https://www.benzinga.com/news/25/01/43076952/heres-the-jaw-dropping-total-jpmorgan-chase-paid-to-fight-legal-battles-over-two-years">Here&#8217;s The Jaw-Dropping Total JPMorgan Chase Paid To Fight Legal Battles Over Two Years</a>
The lawsuit alleges that JPMorgan&nbsp;breached its fiduciary duties under&nbsp;the Employee Retirement Income Security&nbsp;Act, which regulates large employers&#8217; benefit plans. The case also highlights instances where JPMorgan&#8217;s&nbsp;plan from CVS Health had&nbsp;significantly&nbsp;higher prices than what patients&nbsp;would pay without insurance.
As of now, JPMorgan has not responded to requests for comment, and a CVS spokesperson declined to comment. The case,&nbsp;Seth Stern et al v.&nbsp;JPMorgan Chase &amp; Co. et al, 25-cv-02097, has been&nbsp;filed in the Southern District&nbsp;of New York.
Why It Matters:&nbsp;This lawsuit underscores the ongoing debate about the role of employers and pharmacy benefit managers in the rising costs of healthcare in the US. 
The outcome of this case could potentially influence how other companies manage their employee health benefits, particularly in relation to prescription drug costs. 
It also raises questions about the transparency and fairness of pricing in the pharmaceutical industry.
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Image: Shutterstock

Allegations of Inflated Prescription Drug Costs Spark Employee Lawsuit Against JPMorgan

In the escalating trade war initiated by President Donald Trump,&nbsp;Boeing Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) may face significant challenges, potentially tipping the scales in favor of its European competitor,&nbsp;Airbus SE&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>).
What Happened: The increased tariffs imposed by Trump could lead to a price hike of $40 million for a Boeing 787 in a worst-case scenario. This information comes from&nbsp;AerCap Holdings N.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AER#NYSE">AER</a>) CEO Aengus Kelly. 
As a major aircraft leasing company, AerCap would be significantly impacted by such price increases.
"In an absolute worst case scenario, say, a 25% increase across the board on tariffs, a tit-for-tat from both sides — a Boeing 787, the price will go up by $40 million. No one's going to want to pay that," Kelly <a href="https://www.youtube.com/watch?v=YbPWery3vbg">told</a> CNBC in a recent interview.
Boeing, a leading manufacturer in Mexico, could face increased costs on imported parts due to the tariffs. Last week, CEO Kelly Ortberg alerted employees about the potential cost increase&nbsp;on parts like landing gear&nbsp;imported from Canada.
Trump&#8217;s&nbsp;25% tariffs on steel and&nbsp;aluminum have already prompted retaliation from Europe, with potential further rebuttals on the horizon. This could result in Boeing&#8217;s aircraft becoming&nbsp;more expensive in key European&nbsp;markets.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/09/40681758/boeing-shares-dip-in-pre-market-as-32k-workers-plan-companys-first-strike-in-16-years" target="_blank" rel="noreferrer noopener">Boeing Shares Dip In Pre-Market As 32K Workers Plan Company's First Strike In 16 Years</a>
Conversely, Airbus may have some protection against U.S. tariffs due to its&nbsp;facilities in Alabama, Mississippi, and&nbsp;Florida. CEO Guillaume Faury indicated that the company might&nbsp;prioritize deliveries to non-U.S. customers&nbsp;if tariffs disrupt its operations.
According to Kelly, the worst-case scenario could see most airlines turning&nbsp;to Airbus for their new&nbsp;aircraft, potentially giving Airbus control of 75% to&nbsp;80% of the global market.
However, he cautioned, it's still too early to fully grasp the impact of the tariffs.
Why It Matters: The escalating trade war and the resulting tariffs could significantly alter the dynamics of the global aircraft market. Boeing, already grappling with the fallout from the 737 Max crisis, could face further setbacks due to increased costs. 
On the other hand, Airbus could potentially gain a significant advantage, especially if it can navigate the tariff landscape more effectively. 
The outcome of this situation could have far-reaching implications for the global aviation industry.
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Image: Shutterstock

European Aeronautic Defence And Space Unsponsored

EADSY

Trade War May Boost Airbus Over Boeing — AerCap CEO Says 'No One's Going To Want To Pay That'

Mark Cuban wants to hire former U.S. Digital Service employees for his <a href="https://www.benzinga.com/general/social-media/25/03/44211144/mark-cuban-reveals-the-thing-he-respects-most-about-elon-musk-what-hes-been-able-to-accomplish-is-insane-its-incredible">upcoming business venture</a>.
What Happened: Cuban is currently reviewing business proposals&nbsp;from former and current employees&nbsp;of&nbsp;the General Services Administration (GSA)&nbsp;and the White House. 
The goal is to back potential companies and help their workforce leverage the skills they gained while serving as federal government contractors, <a href="https://www.politico.com/news/2025/03/12/mark-cuban-doge-technology-services-00227218">reports</a> Politico.
The new venture by Cuban aims to hire ex-members of the U.S. Digital Service, a federal agency&#8217;s internal IT consulting group, which was renamed as the Department of Government Efficiency (DOGE) by an executive order from President Donald Trump and placed under the control of Elon Musk. On February, 21 Digital Service employees chose to resign instead of aiding DOGE in cutting down federal expenditures, including through widespread layoffs.
"I think it's possible to out-Elon Elon, because the people he will bring in don't know what they don't know," Cuban told the outlet.
"A couple have a real chance to turn into small companies that can leverage their expertise," Cuban added, referring to some of the workers.
Cuban also intends to bring on board former employees of the 18F unit within the GSA, a unit tasked with updating and creating crucial tech services for the government. This unit was disbanded on March 1.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/25/01/43245984/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deser" target="_blank" rel="noreferrer noopener">Cuban on Musk: ‘I Have No Problem Throwing Elon Under the Bus, but I'll Save It for When It's Truly Deserved'</a>
Despite the financial hurdles previously encountered by 18F, Cuban is confident that his new firm will need to generate income from the private sector, along with federal funding. Until a more supportive federal government is established, the company may&nbsp;have to rely on state&nbsp;and local contracts, as suggested by a former 18F employee.
Thomas Shedd, a former Tesla engineer now leading Technology Transformation Services, told staff that 18F "was not and has not been fully cost coverable."
"Despite the losses the team was incurring, 18F with their recent hourly prices were on the very high end of the technology consulting market," Shedd said.
Why It Matters: Cuban&#8217;s move to hire former Tesla and government employees underlines the value of their unique skill sets, honed in both private and public sectors. 
This venture could potentially bridge the gap between government and private sector technology initiatives, fostering innovation and efficiency. 
The focus on generating private sector revenue also indicates a strategic approach to maintaining financial stability, even amidst changing government policies.
Read Next
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Mark Cuban Wants to 'Out-Elon' Musk by Hiring US Digital Service Veterans

Elon Musk, the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), is under fire from investors who are concerned about his lack of focus on the company.
What Happened: Musk&#8217;s attention seems to have shifted from Tesla to his role in President Donald Trump&#8216;s Department of Government Efficiency (DOGE).
Musk, a staunch&nbsp;supporter of Trump, assumed the role of&nbsp;a senior White House adviser&nbsp;after Trump&#8217;s inauguration. Since Trump took office, protests have been held&nbsp;at Tesla showrooms and facilities&nbsp;across the U.S. 
These protests have ranged from peaceful demonstrations to violent acts of vandalism targeting the company&#8217;s facilities, individual vehicles, and Superchargers. Musk&#8217;s remarks on foreign politics have sparked controversy in Europe, resulting in attacks on Tesla vehicles and facilities and a decline in sales in most countries.
As per the report <a href="https://qz.com/elon-musk-donald-trump-tesla-stock-sales-ev-doge-1851769331">by</a> Quartz, Wedbush Securities analyst Dan Ives has pointed out that Tesla investors&#8217; patience is running thin due to Musk&#8217;s noticeable absence from Tesla&#8217;s factories or manufacturing facilities over the last two months.
"In a nutshell the word ‘balance' has been missing with Elon Musk and his ability to run Tesla as CEO, while instead focusing all of his energy and time driving his [Department of Government Efficiency] initiative within the Trump Administration," Ives told the outlet. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/25/03/44067638/elon-musk-claims-rival-billionaire-wants-to-destroy-trump-to-suppress-jeffrey-epstein-client-list" target="_blank" rel="noreferrer noopener">Elon Musk Claims Rival Billionaire Wants to ‘Destroy' Trump To Suppress Jeffrey Epstein Client List</a>
"Tesla investors are seeing patience wear thin as Musk is not reading the room. there has been "little to no sign of Musk at any Tesla factory or manufacturing facility in the last two months," he added.
Despite the criticism, several high-profile conservatives, including Fox News host Sean Hannity, have shown their support for Tesla by purchasing new vehicles and encouraging their followers to do the same.
On Wednesday, Tesla&#8217;s stock rose nearly 4% in pre-market trading, following a nearly&nbsp;4% increase the previous day.&nbsp;However, the&nbsp;stock was down more&nbsp;than 35% year-to-date.
Musk pledged on Tuesday&nbsp;that Tesla would double its&nbsp;vehicle production in the U.S.&nbsp;over the next two years.&nbsp;However, the specifics of this plan, including potential new investments, remain unclear.
Why It Matters: Investor confidence is a critical factor in a company&#8217;s success, and the current criticism Musk is facing could potentially impact Tesla&#8217;s performance. His involvement in the Trump administration and the resulting protests and vandalism could further affect the company&#8217;s reputation and sales. 
The uncertainty surrounding Musk&#8217;s commitment to Tesla and the lack of clarity on his plan to double vehicle production adds to the growing concerns among investors.
Read Next
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Image: Shutterstock

Tesla's Biggest Bull Frustrated With Elon Musk's Focus On DOGE Over Company: 'Patience Wearing Thin'

Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has put a halt on its share buyback program.
What Happened: From&nbsp;February 10 to March 5,&nbsp;Berkshire Hathaway&nbsp;refrained from repurchasing any shares. 
A report <a href="https://www.barrons.com/articles/berkshire-stock-buyback-drought-warren-buffett-e34f73be">from</a> Barron's, citing the company&#8217;s proxy statement released on Friday, confirmed that there were approximately 1.438 million shares outstanding as of March 5, indicating no buybacks during this period.
This comes as the company&#8217;s stock is nearing an all-time high, marking the longest period without buybacks since CEO&nbsp;Warren Buffett&nbsp;was granted extended repurchase authority in 2018.
Despite the absence of buybacks,&nbsp;Berkshire&#8217;s stock has continued to perform robustly, outpacing the S&amp;P 500 this year. 
Also Read: <a href="https://www.benzinga.com/markets/25/03/44067982/heres-how-warren-buffett-made-billions-from-an-industry-he-didnt-understand">Here&#8217;s How Warren Buffett Made Billions From An Industry He Didn&#8217;t Understand</a>
Investors are&nbsp;drawn to the company&#8217;s diverse&nbsp;earnings base and defensive appeal,&nbsp;bolstered&nbsp;by over $300 billion in&nbsp;cash and equivalents.
According to <a href="https://www.benzinga.com/pro/">Benzinga</a> Pro, on Friday, Berkshire's Class A shares increased by 1.9% to $771,250, nearing a record high, while Class B shares rose 2% to $514.60.
The stock&nbsp;has seen a gain of approximately 13% this year, significantly surpassing the S&amp;P 500's 4% decline.
Why It Matters: Analysts estimate that Berkshire's intrinsic value is&nbsp;close to its current stock&nbsp;price. If the share price remains high,&nbsp;the company may continue to&nbsp;abstain from&nbsp;stock buybacks throughout the year,&nbsp;as per Barron&#8217;s. 
This could potentially impact the company&#8217;s future financial strategies and investor sentiment.
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Earnings

Berkshire Hathaway Pauses Buybacks With Stock Near All-Time High

SpaceX has denied that its Starlink satellite unit aims to take over Verizon Communication's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) $2.4 billion telecommunications contract with the Federal Aviation Administration, amid speculation about <a href="https://www.benzinga.com/markets/25/03/44276820/elon-musk-reportedly-pledges-100-million-to-trump-linked-political-groups-amid-billion-dollar-losses-in-his-net-worth">Elon Musk&#8217;s influence in the Trump administration</a>.
&#8220;Starlink is a possible partial fix to an aging system. There is no effort or intent for Starlink to &#8216;take over&#8217; any existing contract,&#8221; SpaceX <a href="https://x.com/SpaceX/status/1897376764105478206">posted on X last week</a>. The company said it is &#8220;working with L3Harris and the FAA&#8221; on potential &#8220;infrastructure upgrade for aviation safety.&#8221;
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The clarification came before Transportation Secretary Sean Duffy&#8216;s criticism of Verizon&#8217;s implementation pace. &#8220;Verizon is not moving fast enough,&#8221; Duffy said at a Tuesday press conference, <a href="https://www.reuters.com/business/media-telecom/usdot-says-verizon-not-moving-fast-enough-24-billion-faa-contract-2025-03-11/">according to Reuters</a>. &#8220;I can&#8217;t wait 10 years&#8230; The American people can&#8217;t wait 10 years or 12 years to lay fiber.&#8221;
Verizon responded that it is &#8220;open and willing to work with companies that may offer complementary services&#8221; and has solutions &#8220;ready to be deployed.&#8221;
The FAA is currently testing Starlink systems at several locations while noting that modernizing air traffic control will require &#8220;multiple technologies and companies.&#8221; <a href="https://www.reuters.com/business/aerospace-defense/faa-says-agency-needs-multiple-technologies-us-air-traffic-system-2025-03-05/">According to Reuters</a>, testing includes three Starlink terminals at an Alaska facility to improve weather information access for pilots, with additional evaluations underway in Oklahoma City and Atlantic City, New Jersey.&nbsp;
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The Government Accountability Office has urged immediate action on aging air traffic control systems, noting one-third are unsustainable, <a href="https://www.reuters.com/business/aerospace-defense/faa-says-agency-needs-multiple-technologies-us-air-traffic-system-2025-03-05/">according to Reuters</a>. It has prompted discussions about the Verizon contract, which Reuters reported is under FAA review.
Some Democrats have suggested the contract might be redirected to Starlink, citing Musk&#8217;s relationship with President Donald Trump and his role leading the Department of Government Efficiency.&nbsp;
Musk has previously criticized the FAA&#8217;s current telecommunications infrastructure.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
However, Duffy indicated no single company would provide the complete solution. &#8220;It&#8217;s not going to be one company. We&#8217;re going to need a lot of companies to buy in and help build up the system,&#8221; Duffy said.
Verizon, which met with senior FAA officials last week according to Reuters sources, maintains it &#8220;remains best positioned&#8221; to provide the needed technological enhancements.
The FAA has said it has not made any decision on the contract&#8217;s future, while Duffy plans to request &#8220;tens of billions of dollars&#8221; from Congress for air traffic control reform.
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Musk's Starlink Says It's Not Taking Over $2.4 Billion FAA Contract—But Testing Is Underway

President Donald Trump&#8216;s publicity stunt for Elon Musk-owned Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has not resulted in a sales uptick, as per the latest inventory check and new order delivery timelines in the U.S.
What Happened: A high-profile Tesla event in front of the White House this week has not yet had a positive effect on the company&#8217;s sales.
According to a report <a href="https://electrek.co/2025/03/14/trump-tesla-commercial-not-helping-inventory-check/">by</a> Electrek, despite being only four days since the event took place, it seems to have had minimal impact on Tesla&#8217;s sales, based on inventory checks and new order delivery timelines.
This event took place a day after Tesla&#8217;s stock took a 15% dive, significantly impacting Musk&#8217;s wealth.
Musk, a substantial financial backer of Trump, is reportedly considering another $100 million donation to Trump, leading to speculation about a potential reciprocal arrangement.
As of March 14, Tesla&#8217;s U.S. inventory showed no significant changes since the day of Trump&#8217;s ad. The Model 3 and Cybertruck inventories remained stable, with the only noticeable change being a decrease in the Model Y inventory by about 800 units.
Also Read: <a href="https://www.benzinga.com/news/25/03/44209536/trump-vs-musk-federal-workers-unconvinced-hell-take-action-if-they-dont-cut-elon-will-comments-show-whos-really-in-charge">Trump vs Musk? Federal Workers Unconvinced He&#8217;ll Take Action: &#8216;If They Don&#8217;t Cut, Elon will, Comments Show Who&#8217;s Really In Charge&#8217;</a>
On March 11, the day of the White House event, Tesla's U.S. inventory included 1,136 Model 3s, 2,332 Model Ys, and 1,010 Cybertrucks, according to Troy Teslike. As of March 14, the inventory stood at 1,435 Model 3s, 1,500 Model Ys, and 1,006 Cybertrucks. While Model 3 listings increased slightly, overall inventory levels remained relatively stable, showing no significant impact from the event.
However, attributing this decrease to Trump&#8217;s ad might be hasty, as Tesla has been aggressively discounting the old generation Model Y to make way for the new generation. 
While the event may have helped Tesla clear some old Model Y units, it&#8217;s highly unlikely that it spurred new orders for the new Model Y.
Why It Matters: The lack of a sales boost following the event raises questions about the effectiveness of such high-cost publicity stunts.
It also highlights the challenges Tesla faces in driving sales amid market volatility and the transition to new vehicle models. 
The situation underscores the importance of strategic marketing and product positioning in the highly competitive auto industry.
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Trump's Tesla Shoutout Falls Flat — No Spike in Orders or Inventory Movement

Rep. John Larson (D-CT)&nbsp; went all out during a fiery House Ways and Means Committee <a href="https://www.youtube.com/watch?v=4WmWZ0pZpyQ">hearing</a> on March 12, criticizing Republican lawmakers for blocking Elon Musk from testifying about his role in shaping Social Security policy.&nbsp;
Larson, the top Democrat on the House's Social Security subcommittee, accused Musk and President Donald Trump's administration of pushing for a plan to <a href="https://www.benzinga.com/personal-finance/25/03/44252340/up-next-privatizing-social-security-warns-bernie-sanders-says-trump-wants-to-undermine-a-program-that-lifted-27-6m-from-poverty">privatize the program</a> while avoiding public accountability.
&#8220;Where's Elon Musk? I'm sure he's a genius and is a very credible person because of the wealth he's accumulated, but that does not put him above the law or the responsibility to come before this committee and this Congress,&#8221; Larson said.
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<h2 class="wp-block-heading">Privatization Push Under Fire</h2>
Larson has spent years advocating for <a href="https://www.benzinga.com/personal-finance/24/07/39843652/congress-has-not-done-anything-in-53-years-about-social-security-says-u-s-rep-john-larson">Social Security's expansion</a>, but recent moves by the Trump administration have raised alarms among Democrats. Musk, a Trump ally, has <a href="https://www.benzinga.com/news/25/03/44156805/elon-musk-once-again-calls-social-security-the-biggest-ponzi-scheme-of-all-time-struggles-to-explain-to-joe-rogan-why">repeatedly called Social Security</a> the &#8220;biggest Ponzi scheme of all time&#8221; and claimed without evidence that officials had uncovered hundreds of millions of dollars in fraud.
In recent weeks, the Department of Government Efficiency, led by Musk, has moved to cut thousands of jobs at the Social Security Administration and shut down field offices nationwide—including in Connecticut. The Washington Post <a href="https://www.washingtonpost.com/politics/2025/03/12/social-security-phone-doge-elderly-disabled/">reported</a> that under pressure from DOGE, the agency is even considering eliminating phone services, a critical resource for millions of Americans who rely on Social Security benefits.
Larson argued that these actions are designed to weaken the program and set the stage for privatization. &#8220;Because he's out to privatize Social Security,&#8221; Larson said when answering his own question about Musk's absence from the hearing.
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<h2 class="wp-block-heading">GOP Faces Backlash Over Hearing</h2>
Democrats, including Sens. Richard Blumenthal (D-CT) and Chris Murphy (D-CT), have called on the SSA to explain its decision to cut staff and services.
&#8220;As one of the nation's most popular and effective programs, Social Security provides a foundation of income on which workers can build for their retirement, as well as valuable insurance protection against unexpected hardship,&#8221; they wrote in a <a href="https://www.rosen.senate.gov/wp-content/uploads/2025/03/030625_letter_to_ssa_acting_commissioner_re.staffingreductions.pdf">letter</a> to SSA Acting Commissioner Leland Dudek. &#8220;By slashing staff and eliminating field offices, fewer Americans will be able to seek assistance during pivotal life events and risk causing further hardship to those in dire circumstances.&#8221;
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
Republicans have defended Musk, arguing that his claims about fraud deserve further investigation. Trump himself has also made conflicting statements, echoing Musk's fraud allegations while also <a href="https://www.benzinga.com/personal-finance/24/07/39956660/donald-trump-swears-to-protect-social-security-but-formerly-referred-to-it-as-a-ponzi-scheme">promising to &#8220;protect&#8221;</a> Social Security. Critics, however, see the administration's moves as part of a broader attempt to weaken public trust in the program and justify future cuts.
With Republicans controlling the House and Senate, Musk and Trump's influence over Social Security policy remains a major concern for Democrats. Larson and his colleagues are demanding that the administration turn over documents related to its plans for the program. But for now, one major question remains unanswered:
&#8220;If these plans and all the fraud and abuse he's found are so eminent, why isn't he here explaining it?&#8221; Larson asked during the hearing. So far, Musk has yet to respond.
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'Where Is Elon Musk?'—Rep. Larson Blasts GOP For Blocking His Testimony In Congress, Says His Wealth Doesn't Put Him 'Above The Law'

ARK Invest CEO Cathie Wood <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39294523/cathie-wood-ark-invest-set-new-2-600-price-target-for-tesla-every-car-becomes-an-ai-powered-c">maintains her ambitious $2,600 price target</a> for Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) by 2029—valuing the company at over $9 trillion—despite the stock&#8217;s near 41% decline since the beginning of the year.
&#8220;It&#8217;s winner take most,&#8221; Wood said of Tesla&#8217;s position in the autonomous vehicle race during <a href="https://www.bloomberg.com/news/audio/2025-03-11/cathie-wood-on-what-s-next-for-ai-tesla-big-tech-tsla?srnd=phx-markets">Bloomberg&#8217;s "Odd Lots" podcast</a>. &#8220;And we do believe that Tesla will be and is in the pole position here in the United States.&#8221;
Wood sees robotaxis as an $8 trillion to $10 trillion opportunity that could transform Tesla from an auto manufacturer to a software company. She predicts autonomous vehicles will boost Tesla&#8217;s gross margins from the current 16% to up to 90%, according to <a href="https://fortune.com/2025/03/04/elon-musk-inventor-of-our-age-doge-distracted-cathie-wood-tesla-stock/">Fortune</a>.
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Wood's bullish outlook hasn&#8217;t translated into strong performance for her flagship $6 billion ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), where Tesla <a href="https://www.ark-funds.com/funds/arkk">represents the largest holding at 10.74%</a>. The fund has gained just 2% over the past five years while the S&amp;P 500 has nearly doubled.&nbsp;
ARKK is down more than 16% year-to-date.
However, retail investors added nearly $300 million to ARKK on Monday—its largest single-day inflow in two years, <a href="https://www.bloomberg.com/news/articles/2025-03-11/arkk-fans-plow-300-million-into-battered-etf-despite-big-losses?embedded-checkout=true">according to Bloomberg</a>. It came despite the fund tumbling about 9% that day amid a broader market selloff.
Matt Maley, chief market strategist at Miller Tabak + Co., told Bloomberg that retail investors are buying tech stocks as the sector has taken a beating this year. The &#8220;buy-the-dip&#8221; mentality is strong, according to Bloomberg, particularly among those seeking Tesla exposure.
Trending: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a>
Wood called Musk &#8220;the inventor of our age&#8221; and dismissed concerns that his role heading the Department of Government Efficiency would distract from Tesla. &#8220;He&#8217;s surrounded himself by businesspeople and engineers who want to work on the hardest projects in the world,&#8221; she said.
Beyond Tesla, Wood anticipates an &#8220;R&amp;D explosion in health care,&#8221; with CRISPR Therapeutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSP#NASDAQ">CRSP</a>) representing <a href="https://www.ark-funds.com/funds/arkk">nearly 6% of ARKK&#8217;s portfolio</a>. She compared President Donald Trump&#8217;s second term to the &#8220;Reagan revolution,&#8221; calling that era &#8220;the heyday, golden age of active management.&#8221;
Despite Monday&#8217;s inflow, ARKK hasn&#8217;t seen a monthly net positive since December 2023, according to Bloomberg.&nbsp;
Bloomberg noted that many of ARKK&#8217;s top holdings from November 2021 remain unchanged, including Tesla, Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>)—none of which have kept pace with the broader market since then.
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Cathie Wood Stands By Tesla's $2,600 Price Target Despite 40% Stock Drop: 'It's Winner Take Most

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener"> many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
This week, U.S. stock markets tumbled into correction territory, with the S&amp;P 500 dropping over 10% from February highs. Investor fears surged over President Donald Trump's tariff hikes on Canadian steel and aluminum, fueling recession concerns and a potential global slowdown.
Consumer confidence plummeted, with the University of Michigan's index falling 11% to 57.9, its lowest since 2022. Trade tensions, government layoffs, and immigration restrictions stoked worries about reduced spending and a weakening job market.
Despite the turmoil, markets rebounded Friday, with the Dow Jones gaining over 200 points as utilities, tech, and energy stocks rallied. However, consumer staples and financials lagged, underscoring persistent economic uncertainty.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.
The Bulls
In <a href="https://www.benzinga.com/news/earnings/25/03/44317205/docusign-q4-earnings-revenue-beat-eps-beat-billings-up-11-shares-move-higher-despite-soft-guidance">"DocuSign Q4 Earnings: Revenue Beat, EPS Beat, Billings Up 11%, Shares Move Higher Despite Soft Guidance"</a>, by Adam Eckert, DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) reports a 9% revenue increase to $776.3 million and adjusted earnings per share of 86 cents, surpassing expectations, with billings up 11%, though shares rose despite soft guidance.
In <a href="https://www.benzinga.com/25/03/44301722/d-wave-quantum-stock-rallies-on-strong-q4-booking-growth-and-optimistic-outlook">"D-Wave Quantum Stock Gains On Strong Q4 Booking Growth, Optimistic Outlook"</a> by Nabaparna Bhattacharya, D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) reports a 502% year-over-year increase in Q4 bookings to $18.3 million and anticipates Q1 2025 revenue to exceed $10 million, driven by the sale of an Advantage quantum computer.
In <a href="https://www.benzinga.com/25/03/44323837/radius-recycling-lands-merger-deal-at-115-premium-shares-skyrocket">"Radius Recycling Lands Merger Deal At 115% Premium, Stock Skyrockets"</a> by Lekha Gupta, Radius Recycling Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) agrees to a $1.34 billion acquisition by Toyota Tsusho America, offering $30 per share—a 115% premium—causing Radius shares to surge 109% premarket.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/top-stories/25/03/44313558/nvidia-stock-reached-all-time-highs-after-jensen-huangs-ces-keynote-will-next-weeks-gtc-spark-another-surge">Nvidia Stock Reached All-Time Highs After Jensen Huang's CES Keynote — Will Next Week's GTC Spark Another Surge?</a>
<a href="https://www.benzinga.com/analyst-ratings/price-target/25/03/44302205/why-intel-stock-is-surging-thursday">Why Intel Stock Is Surging Thursday</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44317256/bitcoin-to-hit-250k-by-end-of-2025-tim-draper-predicts-will-be-the-dominant-currency-of-the-world">Bitcoin To Hit $250K By End Of 2025 Tim Draper Predicts: ‘Will Be The Dominant Currency Of The World'</a>
The Bears
In <a href="https://www.benzinga.com/news/large-cap/25/03/44237691/magnificent-7-sheds-over-750-billion-in-market-cap-in-one-day-is-big-techs-honeymoon-over">"Magnificent 7 Sheds Over $750 Billion In Market Cap In One Day: Is Big Tech's Honeymoon Over?"</a> by Hayden Buckfire, the Magnificent Seven tech companies, including Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), collectively lost approximately $780 billion in market capitalization on Monday, driven by investor concerns over a potential recession and President Donald Trump's proposed tariff plans.
In <a href="https://www.benzinga.com/general/social-media/25/03/44286296/trump-media-technology-stock-drops-50-since-inauguration-day">"Trump Media &amp; Technology Stock Drops 50% Since Inauguration Day"</a> by Erica Kollmann, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares have fallen 50% since President Donald Trump's inauguration, closing at $19.50, amid market volatility and policy uncertainties.
In <a href="https://www.benzinga.com/25/03/44274151/palantirs-stock-takes-a-hit-but-will-aipcon-defense-deals-be-the-comeback-catalyst">"Palantir's Stock Takes A Hit: Will AIPCon And Defense Deals Be The Comeback Catalyst?"</a> by Surbhi Jain, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares have declined 33.51% over the past month, trading below key moving averages, as investors await potential catalysts from the upcoming AIPCon and recent defense contracts.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/trading-ideas/movers/25/03/44307671/is-high-flying-ionq-stock-a-disaster-in-the-making-shares-slide-as-short-seller-raises-red-flags">Is High-Flying IonQ Stock A ‘Disaster In The Making'? Shares Slide As Short Seller Raises Red Flags</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/25/03/44256996/terawulf-stock-tanks-death-cross-spells-trouble-for-bitcoin-miner">TeraWulf Stock Tanks: Death Cross Spells Trouble For Bitcoin Miner</a>
<a href="https://www.benzinga.com/25/03/44229052/oracle-stock-stumbles-into-q3-earnings-will-buyers-step-in-as-it-nears-oversold-territory">Oracle Stock Stumbles Into Q3 Earnings: Will Buyers Step In As It Nears Oversold Territory</a>
Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.
Image created using artificial intelligence via Midjourney.

DOCU

PLTR

QBTS

RDUS

Benzinga Bulls And Bears: DocuSign, Magnificent 7, Palantir — And Tariffs Keep Roiling Markets

Last year, Warren Buffett was criticized and mocked for sitting on a mountain of cash while markets surged. However, now, with stocks tumbling and recession fears mounting, the "Oracle of Omaha" suddenly looks like the only one who saw it coming.
What Happened: Berkshire Hathaway sold a staggering <a href="https://in.benzinga.com/markets/equities/25/02/44018996/buffetts-on-the-sidelines-should-you-follow">$134 billion worth</a> of stocks in 2024 — and barely touched the cash.
Buybacks were paused entirely in the second half, leaving Buffett's firm with a record-breaking <a href="https://in.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald">$334 billion cash reserve</a> by year's end. At the time, critics questioned his reluctance to reinvest as the S&amp;P 500 logged two consecutive years of 20%+ gains.
See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44212384/bill-ackman-clashes-with-david-sacks-over-ukraine-strategy-asks-if-us-should-let-russia-take-the-rest-of-eastern-europe" target="_blank" rel="noreferrer noopener">Bill Ackman Clashes With David Sacks Over Ukraine Strategy, Asks If US Should Let Russia ‘Take The Rest Of Eastern Europe'</a>
Now, those same critics are eating their words.
Buffett slashed his Apple Inc. stake from 49% to just 23% of Berkshire's portfolio and reduced holdings in Bank of America. Weeks later, markets began to unravel.
The <a href="https://in.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence">Nasdaq 100 dropped 8.83%</a> in just 18 days, while JPMorgan stock — sold by CEO Jamie Dimon in a $234 million February trade — tumbled more than 9.6%.
The Internet Is Paying Attention:
"There is only one billionaire in the top 10 whose net worth increased today: Warren Buffett," posted X user Dan Stone, sharing a screenshot of showing Buffett being the only one whose net worth increased by $607 million on March 10, 2025, amid a broader market decline
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There is only one billionaire in the top 10 whose net worth increased today: Warren Buffett <a href="https://t.co/1HvrJioUJf">pic.twitter.com/1HvrJioUJf</a>
&mdash; Dan Stone (@dan5one) <a href="https://twitter.com/dan5one/status/1899237658741920003?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another chimed in: "Just remember, there was a reason why Warren Buffett went $$340 billion cash. He knew."
Here are some other reactions:&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett is so smart he managed to sit out a Bull market which gained 42% so he could avoid the horrible losses of a 8% correction &#8211; Fintwit &#x1f609; <a href="https://t.co/sqlyv1oQuF">pic.twitter.com/sqlyv1oQuF</a>
&mdash; Reminiscences of an American Capitalist (@4Awesometweet) <a href="https://twitter.com/4Awesometweet/status/1899513384007303511?ref_src=twsrc%5Etfw">March 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett watching the stock market collapse while holding $300 Billion in T-Bills<a href="https://t.co/dkf6z23d0c">pic.twitter.com/dkf6z23d0c</a>
&mdash; Geiger Capital (@Geiger_Capital) <a href="https://twitter.com/Geiger_Capital/status/1899166290570260818?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On Threads, the reaction was even sharper. "Funny how just days before the recent stock market crash, Warren Buffett cashed out $334 billion in stocks," wrote one user. "Meanwhile, JPMorgan CEO Jamie Dimon also sold hundreds of millions in shares. Coincidence? Or do they know something we don't?"
Another said, "Warren Buffett always knows when the collapse is coming because he's the first person they call when they need someone to bail them out."
Why It Matters: Economic uncertainty is growing, with President Donald Trump referring to the current state as "a period of transition" when asked about the likelihood of a recession.
Meanwhile, warning signs from the bond market are flashing, as investors increasingly favor short-term Treasuries amid expectations of interest <a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade">rate cuts by the Federal Reserve</a>.
Buffett has voiced <a href="https://www.benzinga.com/news/25/03/44122159/warren-buffett-calls-tariffs-an-act-of-war-warns-they-function-as-a-tax-on-goods-amid-market-turmoil">sharp criticism of tariffs</a>, calling them "an act of war" and equating them to a hidden tax on consumers. Analysts at Goldman Sachs have cautioned that a 5% hike in tariffs could slash corporate earnings by 1–2%, potentially leading to a 5% drop in the S&amp;P 500.
Still, Buffett remains optimistic about the future of U.S. businesses, reaffirming his confidence by saying, "A majority of any money I manage will always be in the United States."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade" target="_blank" rel="noreferrer noopener">Stock Futures Drop As ‘Reverse Trump Trade' Takes Hold—Peter Schiff Says Market Shift ‘Long Overdue' And Will Likely Continue For A Decade</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Warren Buffett's Berkshire Hathaway Sold $134 Billion In Stocks In 2024, Timing It Perfectly As Recession Fears Mount: The Internet Is In Awe

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has reportedly paused deliveries of Cybertruck after multiple owners complained that exterior metal panels were detaching.
What Happened: Tesla delivery agents have stated that all outbound Cybertruck shipments have been halted due to concerns that the adhesive used to attach the stainless steel panels is failing, <a href="https://electrek.co/2025/03/13/tesla-cybertruck-deliveries-are-on-hold-as-trims-are-flying-off-the-bulletproof-truck/">reported</a> Electrek.
Images shared by owners on social media show sharp-edged trim flapping in the wind and, in some cases, entire bumpers hanging loose.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just GLUED on?? What a piece of junk! <a href="https://twitter.com/cybertruck?ref_src=twsrc%5Etfw">@Cybertruck</a> here reminds me of how growing up as a child toys transitioned from having solid, well-made, screwed on pieces and parts into crudely glued together chunks of crude plastic and die cast pot metal. Bad look, <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a>. REALLY bad. <a href="https://t.co/3sjdfOPmAj">pic.twitter.com/3sjdfOPmAj</a>
&mdash; Darth Continent (@DarthContinent) <a href="https://twitter.com/DarthContinent/status/1900182399171833876?ref_src=twsrc%5Etfw">March 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Owners in colder climates, in particular, have been raising concerns for weeks, with some drivers filing complaints with the National Highway Traffic Safety Administration (NHTSA).
See Also: <a href="https://in.benzinga.com/25/02/43456592/tesla-researcher-expects-cybertruck-deliveries-to-fall-in-2025-order-backlog-is-gone">Tesla Cybertruck Headed For A Sales Crash In 2025? Analyst Sounds The Alarm, Predicts Elon Musk-led EV Giant Will Move Less Than A Third Of Street Estimates</a>
Tesla has not issued an official statement addressing the reported defect or the delivery halt. The company has already recalled Cybertrucks for other issues, including accelerator pedals sticking and plastic trim pieces detaching during normal use.
Why It's Important: The Cybertruck, one of Tesla's most hyped vehicles, has faced a rocky rollout since its launch, with delays, recalls, and quality control concerns piling up.&nbsp;
In August 2024, YouTuber Cody Detwiler, known as WhistlinDiesel, drew widespread attention after subjecting a Cybertruck to a series of stress tests, revealing how easily the vehicle's exterior could be damaged.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="WhistlinDiesel Cybertruck Durability Test #1" width="500" height="281" src="https://www.youtube.com/embed/PK_EJ3DyiiA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Additionally, the Cybertruck&#8217;s controversial design has impacted business for some owners. Yoni Menaker, a business owner, reported losing $70,000 in contracts due to customer aversion to the <a href="https://in.benzinga.com/personal-finance/25/03/44249300/tesla-cybertruck-owner-says-hes-lost-70k-in-business-over-backlash-customers-hate-it-but-he-loves-it-the-best-truck-ive-ever-had">vehicle&#8217;s appearance</a>.
Tesla CEO Elon Musk once touted the <a href="https://www.benzinga.com/news/24/02/37306930/elon-musk-dubs-cybertruck-finest-in-apocalypse-defense-technology-after-ev-pickups-cameras-record-fa">Cybertruck as apocalypse-proof</a>, but ongoing quality issues may turn the bold EV into a reputational risk for the brand.
Last month, it was reported that the EV giant has been struggling with inventory buildup as Cybertruck units were seen accumulating <a href="https://www.benzinga.com/tech/25/02/44037023/tesla-cybertruck-inventory-swells-despite-discounts-falling-short-of-elon-musks-vision">outside Tesla&#8217;s Texas gigafactory</a>. This has led to aggressive discounting strategies to boost sales.
Price Action: Tesla shares closed at $249.98 on Friday, up 3.86% for the day. The stock is down 34.09% year to date, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/02/43455022/fords-mustang-mach-e-was-its-saving-grace-in-january-as-sales-of-its-other-evs-dipped" target="_blank" rel="noreferrer noopener">Mustang Mach-E Accelerates Ford's EV Sales In January Even As F-150 Lightning Slows Down</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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Elon Musk's Tesla Halts Cybertruck Deliveries After Metal Panels Reportedly Fall Off — Owners Living In Cold Weather Say Glue Is Failing

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly facing internal turmoil as it <a href="https://in.benzinga.com/media/25/03/44207932/apple-delays-next-gen-siri-its-going-to-take-us-longer-than-we-thought-to-deliver-ai-upgrades">struggles to fix major AI failures</a> in Siri, with a top executive calling the delays ugly and embarrassing after the company prematurely marketed features that weren't ready.
What Happened: During an all-hands meeting for Apple's Siri division, senior director Robby Walker acknowledged the frustration among employees over the repeated delays of key AI-powered Siri enhancements, <a href="https://www.bloomberg.com/news/articles/2025-03-14/apple-s-siri-chief-calls-ai-delays-ugly-and-embarrassing-promises-fixes">reported</a> Bloomberg, citing people familiar with the matter.
"This was not one of those situations where we get to show people our plan after it's done," Walker told staff, referring to <a href="https://www.benzinga.com/news/24/06/39228141/apple-intelligence-what-to-expect-from-tim-cooks-wwdc-plans-for-bringing-ai-to-iphone-ipad-and-mac">Apple's demonstration of its AI features</a> at WWDC. "We showed people before."
See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>
Walker admitted that Apple's marketing team made the situation worse by promoting the upcoming Siri features in TV commercials and branding campaigns despite knowing they were not ready for launch.
Initially <a href="https://www.benzinga.com/news/24/07/39665558/apples-most-awaited-siri-ai-upgrade-will-not-come-until-2025-report">expected in early 2024</a>, the AI-powered Siri enhancements—designed to improve personal assistant functionality, data integration, and app control—have been repeatedly delayed due to performance issues.
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Walker said Apple found that the features only worked properly two-thirds to 80% of the time, meaning they failed one out of every three attempts.
Apple now aims to roll out the improvements in iOS 19, but Walker warned that even this timeline is uncertain, citing competing priorities within Apple's software and hardware teams.
Why It's Important: The delays highlight Apple's ongoing struggles in AI, particularly as competitors like OpenAI, Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) advance rapidly.&nbsp;
Siri has lagged behind rivals, and these setbacks reinforce concerns about <a href="https://www.benzinga.com/tech/25/03/44068020/apples-ai-crisis-falling-behind-in-the-ai-race">Apple's ability to compete in the AI space</a>.
Apple's AI missteps come as the company faces a 12.45% stock decline year-to-date amid broader market struggles.
Earlier this week, Morgan Stanley raised concerns over Apple&#8217;s AI delay, cutting its <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/03/44284821/apple-stock-takes-a-bite-out-of-investors-as-siri-fumbles-ai-race">price target from $275 to $252</a>.&nbsp;
Meanwhile, in a bid to regain its footing, Apple has reportedly partnered with Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to enhance <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/02/43655603/apple-finds-its-ai-wingman-in-alibaba-can-it-power-an-iphone-comeback-in-china">AI features in iPhones</a> for the Chinese market. This collaboration could be crucial for Apple&#8217;s efforts to reclaim market share in China.
Price Action: Apple&#8217;s stock closed at $213.49 on Friday, rising 1.82% for the day. However, after-hours trading saw a slight decline of 0.094%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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Photo courtesy: Apple

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